Earn Points for Your $BTC with Babylon BTC Staking

Axol.io is excited to announce Bitcoin holders are now able to earn points through Babylon’s BTC delegated staking.

Step 1

Download OKX Wallet (Direct Chrome Extension)

Step 2

— Buy BTC from any trusted Central Exchange (CEX).
— Send BTC from CEX to OKX Wallet
— Find Taproot formatted wallet address

Step 3 on December 10th

Enter Babylon’s staking dashboard for Axol.io

Full link: https://www.stakingrewards.com/stake-app?input=bitcoin&type=babylon-staking&provider=axolio

Step 4 Accept Transaction Fee

Babylon limits the total amount staked, creating a brief window of opportunity. Previous phases lasted less than 30 minutes. The higher you set your fee, the higher the likelihood your BTC will be staked to the next block, before the cap is filled.

Accept the transaction fee in the OKX wallet to prompt the stake now button.

Step 5 Stake BTC

Finish the staking process by clicking “Stake” and confirming the transaction in your wallet.

Congratulations you’ve now joined the Axol.io community of delegators dedicated to diversifying node infrastructure into Latin America.

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Learn more about $BTC staking with Babylon

What is Babylon?

Babylon is a suite of security-sharing protocols that bring Bitcoin’s unparalleled security to the decentralized world. The latest protocol, Bitcoin Staking, enables Bitcoin holders to stake their Bitcoin to provide crypto-economic security to PoS (proof-of-stake) systems in a trustless and self-custodial way

Do I get rewards for staking?

No. This is a locking-only phase without a PoS chain. There is no PoS staking reward nor incentives for participation. We expect that participants will receive points for their contribution to the network relative to the amount of time their $BTC has been staked.

How does Bitcoin Staking work?

BTC holders lock their BTC using the trustless and self-custodial Bitcoin Staking script for a predetermined time (timelock) in exchange for voting power in an underlying PoS protocol. In return, Bitcoin holders will earn PoS staking rewards.

Finality providers perform the voting. A BTC staker can create a finality provider by itself and self-delegate or delegate its voting power to a third-party finality provider.

If a finality provider attacks the PoS system, the BTCs behind the voting powers delegated to it will be subject to protocol slashing. This deters BTC stakers and finality providers from attacking the PoS system.

Does my BTC leave my wallet once staked?

Technically, your BTC has not left your custody. However, your wallet will not show the BTC you staked in your available balance once that BTC is locked. Current wallet implementations do not yet know how to display staked BTC that is still in your custody. When staking, you do not send the BTC to a third party. It is locked in a self-custodial Bitcoin Staking script that you control. This means that any subsequent movement of the BTC will need your approval. You are the only one who can unbond the stake and withdraw.

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